Zara owner Inditex admits further price increases are on the way September 14, 2022 Zara owner Inditex has admitted it plans to increase prices again this autumn, as it battles elevated headwinds. It comes as clothes shoppers are facing their own constraints on discretionary spending as household bills rocket. Europe’s largest fashion retailer will boost prices in the second half of the year, its chief financial officer Ignacio Fernandez [...]
Shares dive for Joules after stake acquisition talks with Next called off September 14, 2022 Joules’ shares have been further subdued after it confirmed it is no longer in discussions with Next acquiring an equity stake in the lifestyle group. The ailing retailer’s share price was down around twelve per cent in early afternoon trading on Wednesday, following an announcement the day before. Shares were down by 33 per cent [...]
Multi-buy ban on sugary foods may be scrapped under government review September 14, 2022 Ministers may rip up its strategy to tackle obesity after a new review has been ordered into incoming rules around the promotion of unhealthy food, it has been reported. The Guardian newspaper has reported that Prime Minister Liz Truss could scrap a ban on foods that are high fat, salt or sugar being displayed prominently [...]
City spotlight on ‘awry’ Naked Wines as shares continue to drop and strategy is reviewed September 14, 2022 Attention in the City is rapidly shifting towards Naked Wines, as a director left after only three weeks in the job, the business warned it is reviewing its plans for the next 18 months and shares tank. The online retailer’s shares dropped by around 30 per cent this morning. Naked Wines, which connects shoppers with [...]
Dunelm continues with strong sales growth despite economic headwinds September 14, 2022 Homewares retailer Dunelm posted strong sales growth this morning, despite ongoing macroeconomic concerns. In its full year results, the firm posted sales growth of 16.2 per cent, with total sales 41 per cent higher than 2019 levels. Sales hit £1.5bn, with profit before tax at £209m. Active customers grew by 8.5 per cent over the year, [...]
Working out well: Third Space eyes suburban locations for expansion pipeline September 14, 2022 Luxury health club brand Third Space is eyeing more locations in suburban areas, as opposed to in office hotspots, its CEO has told City A.M. Third Space offers members “a combination of expertise and luxury” and caters to “fitness savvy enthusiasts” as opposed to “first timers”, with members who “like the finer things in life,” [...]
Mothercare shares surge as baby goods seller returns to profitability September 13, 2022 Shares in Mothercare surged by more than 60 per cent today after the British baby-care products retailer said it had swung back into profitability over the past financial year. The Watford headquartered company posted profits of £12.1m for the financial year 2022, compared to a £21.5m loss in FY 2021. The retailer said the “significant [...]
Center Parcs forced into u-turn after threatening to kick out guests on Monday September 13, 2022 Center Parcs has been forced into an embarrassing u-turn after threatening to kick out holidaymakers on Monday as it closed for the Queen’s funeral. Hundreds took to Twitter to express their anger and frustration after the short-breaks specialist announced its villages across the UK would close on 19 September “ as a mark of respect”. [...]
Sainsbury’s injects £20m into boosting shop workers’ wages September 13, 2022 Sainsbury’s has said it will boost pay for its shop workers in London to £11.20 per hour, as well as offering employees free food amid the cost of living crisis. The supermarket said it was investing £25m into supporting its hourly paid workers, with some £20m being pumped into employees’ pay packets. Employees at Sainsbury’s [...]
Discounters Aldi and Lidl keep taking market share as Brits now pay £571 more for groceries September 13, 2022 Discounter Aldi has become Britain’s fourth largest supermarket for the first time while Lidl’s market share is also in the lift, according to new data out this morning. The findings come as Brits are now paying a record £571 more on average for their groceries than last year Grocery price inflation hit 12.4 per cent [...]